2021年经济学人 各国央行推出数字货币,中国成领跑者(2)

Much like other central banks, the ECB wants to offer consumers digital tender that is as safe as physical cash. Unlike bank deposits, a claim on central-bank reserves carries no credit risk. Digital-currency transactions could be settled instantly on the central bank's ledger¹, rather than using the pipes of card networks and banks. That could provide a back-up system in the event that outages or cyber-attacks cause private payment channels to fail.

欧洲央行在很大程度上和其他央行一样，希望向消费者提供和现金一样安全的数字货币。对央行储备的拥有权与银行存款不同，它不存在信用风险。数字货币交易可以通过央行分类帐即时结算，无需使用信用卡网络和银行渠道。当出现因停电或者网络攻击而导致私营支付渠道不能正常运行时，它可以作为一个后备系统。

The bank also sees a digital currency as a potential tool to bolster² the international role of the EURO, which makes up just 20% of central-bank reserves globally, versus³ the dollar's 60%. It could let foreigners settle cross-border transactions directly in central-bank money, which would be faster, cheaper and safer than directing them through a web of "correspondent" banks. That could make the digital EURO attractive to businesses and investors⁴.

欧洲央行还把数字货币视为一种可能增强欧元国际地位的工具。欧元仅占全球央行储备的20％，而美元占60％。数字货币可以让外国人直接用央行货币结算跨境交易，这比通过“代理”银行网络结算更快、更便宜，也更安全，可能会让企业和投资者对数字欧元感兴趣。

Its main draw may be to offer a level of privacy that neither America nor China can promise, says Dave Birch, a fintech expert. The former uses its financial system to enforce sanctions; the latter seeks control. But getting the design right will be tricky⁵: the European Union still wants to be able to track cash that is being laundered⁶ or hidden to dodge⁷ taxes. One fix could be to let users open e-wallets only once they have been vetted⁸ by banks, but for the use of the digital currency itself to be unmonitored.

金融科技专家戴夫·伯奇表示，数字欧元的主要吸引力可能是它能提供美国和中国都无法保证的某种程度的隐私保护。美国利用其金融系统制裁别国，中国则是寻求控制。不过，想要把数字欧元设计妥当并不容易，因为欧盟仍希望能够追踪洗钱或为避税而隐藏的现金。一种解决方法是让用户仅在经银行验证后才能打开电子钱包，但他们对数字货币的使用则不受监控。

A wildly successful digital EURO could siphon deposits away from banks and threaten the availability of credit. Remedies being considered include capping the amount of currency users can hold or—as Fabio Panetta, a member of the ECB's executive board, suggested on February 10th— charging penalties on use above a threshold. A digital EURO could also involve "huge legal reform", says Huw van Steenis of UBS, a bank. "Settlement finality"—which governs when a payment completes and cannot be reversed—varies across the EURO zone's 19 countries, and would need to be harmonised. Launching a CBDC will take more than token efforts.

数字欧元如果大获成功，可能会从银行吸走存款，威胁到信贷的供应。正在考虑的补救措施包括限制用户可以持有的数字欧元的数量，或者如2月10日欧洲央行执行委员会委员法比奥·帕内塔建议的那样，对超过上限使用数字欧元施以处罚。瑞银（UB）的休范斯坦尼斯表示，推出数字欧元可能还需要“巨大的法律改革”。欧元区19个国家的“结算最终性”（决定付款何时完成且不可撤销）各不相同，需要统一。推出一种CBDC可不是做做样子就行的。

1 ledger   

n.总帐，分类帐；帐簿

参考例句：

• The young man bowed his head and bent over his ledger again.那个年轻人点头应诺，然后又埋头写起分类帐。
• She is a real accountant who even keeps a detailed household ledger.她不愧是搞财务的，家庭分类账记得清楚详细。

2 bolster   

n.枕垫；v.支持，鼓励

参考例句：

• The high interest rates helped to bolster up the economy.高利率使经济更稳健。
• He tried to bolster up their morale.他尽力鼓舞他们的士气。

3 versus   

prep.以…为对手，对；与…相比之下

参考例句：

• The big match tonight is England versus Spain.今晚的大赛是英格兰对西班牙。
• The most exciting game was Harvard versus Yale.最富紧张刺激的球赛是哈佛队对耶鲁队。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 tricky   

adj.狡猾的，奸诈的；(工作等)棘手的，微妙的

参考例句：

• I'm in a rather tricky position.Can you help me out?我的处境很棘手，你能帮我吗？
• He avoided this tricky question and talked in generalities.他回避了这个非常微妙的问题，只做了个笼统的表述。

6 laundered   

v.洗（衣服等），洗烫（衣服等）( launder的过去式和过去分词 )；洗（黑钱）（把非法收入改头换面，变为貌似合法的收入）

参考例句：

• Send these sheets to be laundered. 把这些床单送去洗熨。 来自辞典例句
• The air seems freshly laundered. Sydney thinks of good drying weather. 空气似乎被清洗过，让悉妮想起晴朗干爽适合晒衣服的好天气。 来自互联网

7 dodge   

v.闪开，躲开，避开；n.妙计，诡计

参考例句：

• A dodge behind a tree kept her from being run over.她向树后一闪，才没被车从身上辗过。
• The dodge was coopered by the police.诡计被警察粉碎了。

8 vetted   

v.审查（某人过去的记录、资格等）( vet的过去式和过去分词 )；调查；检查；诊疗

参考例句：

• The recruits were thoroughly vetted before they were allowed into the secret service. 情报机关招募的新成员要经过严格的审查。 来自《简明英汉词典》
• All staff are vetted for links with extremist groups before being employed. 所有职员录用前均须审查是否与极端分子团体有关。 来自辞典例句